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# OSTIUM OLP RECOVERY PLAN

> RECOVERY PORTAL TERMS AND CONDITIONS

Please read these terms and conditions (these “Terms”) carefully. These Terms govern your access to and use of the recovery portal located at ostium.app/vault (the “Recovery Portal”) in connection with the OLP Recovery Plan. Certain aspects of the Recovery Portal and OLP Recovery Plan are provided or administered by Ostium Foundation, a Cayman Islands exempted foundation company (“Foundation”), and certain aspects are provided or administered by Ostium Labs Co. (“Labs” and, together with Foundation, “Ostium”, “we”, “us” or “our”).

BY CONNECTING A DIGITAL ASSET WALLET TO THE RECOVERY PORTAL, SIGNING THE MESSAGE DESCRIBED IN SECTION 6, AND/OR COLLECTING AN ALLOCATION, YOU ACCEPT THESE TERMS (INCLUDING THE RELEASE IN SECTION 7) ON BEHALF OF YOURSELF OR, IF APPLICABLE, THE ENTITY YOU REPRESENT, AND YOU REPRESENT THAT YOU HAVE THE RIGHT, AUTHORITY, AND CAPACITY TO DO SO. IF YOU DO NOT AGREE WITH THESE TERMS, DO NOT ACCESS OR USE THE RECOVERY PORTAL.

PLEASE BE AWARE THAT SECTION 7 CONTAINS A RELEASE, COVENANT NOT TO SUE, AND ASSIGNMENT OF CLAIMS, AND THAT SECTION 8 CONTAINS AN ARBITRATION AGREEMENT AND CLASS ACTION WAIVER. PLEASE READ THESE SECTIONS CAREFULLY.

## 1. Background

1.1 The Ostium protocol is an open-source, decentralized trading protocol. On or about 15 July 2026, certain smart contracts deployed as part of the protocol were exploited by an unauthorized third party (the "Incident"), resulting in a loss of assets held by Ostium Liquidity Pool (“OLP”) depositors. Following the Incident, trading was paused and the affected smart contracts were frozen at Arbitrum block 484,137,016.

1.2 Ostium and its advisors have voluntarily undertaken efforts to recover a portion of the affected assets and have committed resources toward distributing recovered funds to affected OLP holders. This document sets out the terms on which holders of OLP at the time of the Incident may participate in that distribution through the Recovery Portal. In consideration of these efforts, each Participant is required to provide the release described in Section 7.

## 2. Definitions

Capitalized terms used in these Terms have the meanings given below or elsewhere in these Terms.

2.1 “Chainalysis KYT” means the Chainalysis “Know Your Transaction” wallet screening tool used by the Ostium protocol.

2.2 “Allocation” means a Convenience Entitlement or a Recovery Entitlement, and “collect” means to submit, sign, and receive payment in respect of a Convenience Entitlement or Recovery Distribution through the Recovery Portal.

2.3 “Recovery Portal” means the online portal through which eligible holders may view, elect, and collect Allocations under the OLP Recovery Plan.

2.4 “Convenience Class” means the class of General Entitlements, each equal to or below the Convenience Entitlement Threshold or reduced to the Convenience Entitlement Threshold pursuant to a Convenience Class Election, that are eligible for payment from the Convenience Class Smart Contract.

2.5 “Convenience Entitlement” means the right of a member of the Convenience Class to collect payment of its Loss (or, following a Convenience Class Election, the Convenience Entitlement Threshold) in USDC from the Convenience Class Smart Contract, subject to these Terms.

2.6 “Convenience Entitlement Threshold” means 1,000 USDC.

2.7 “Convenience Entitlements Deadline” means the date that is 90 days after the launch of the Recovery Portal, as displayed on the Recovery Portal.

2.8 “Convenience Class Election” means the irrevocable election, described in Section 4.2, by which a holder of a General Entitlement above the Convenience Entitlement Threshold reduces its Allocation to the Convenience Entitlement Threshold in exchange for payment through the Convenience Class Smart Contract.

2.9 “Convenience Class Smart Contract” means the smart contract, funded as described in Section 4.3, from which Convenience Entitlements are paid.

2.10 “Election Deadline” means the date that is 30 days after the launch of the Recovery Portal, as displayed on the Recovery Portal.

2.11 “General Entitlement” means, for each wallet holding OLP at the Snapshot Block, an entitlement under the OLP Recovery Plan equal to that wallet’s Loss, as recorded in the Merkle tree referenced in Section 3.2.

2.12 “Recovery Entitlement” means the right of a holder of a General Entitlement above the Convenience Entitlement Threshold who does not make a Convenience Class Election by the Election Deadline to receive Recovery Distributions in respect of its Loss, up to a maximum of 100% of its Loss, recorded in the Recovery Entitlements Smart Contract and subject to these Terms.

2.13 “Recovery Class” means the class of General Entitlements recorded as Recovery Entitlements in the Recovery Entitlements Smart Contract.

2.14 “Recovery Entitlements Smart Contract” means the smart contract that records Recovery Entitlements and from which Recovery Distributions are paid.

2.15 “Recovery Distribution” means a pro rata payment made from the Recovery Pool to holders of Recovery Entitlements from time to time, as described in Section 5.

2.16 “Recovery Pool” means the pool of funds described in Section 5.3 from which Recovery Distributions are made.

2.17 “Snapshot Block” means Arbitrum block 484,137,016, recorded on 15 July 2026, being the block at which the affected smart contracts were frozen and at which OLP holdings were recorded for purposes of the OLP Recovery Plan.

## 3. Eligibility and Loss

3.1 Every wallet that held OLP at the Snapshot Block is eligible for a General Entitlement under the OLP Recovery Plan, subject to the exclusions in Section 3.4.

3.2 “Loss” means, for each wallet, the number of OLP units held at the Snapshot Block multiplied by the difference between (a) the price of the underlying assets represented by OLP immediately prior to the Incident and (b) the price of those assets immediately following the Incident. Each wallet’s Loss is a fixed amount, determined as of the Snapshot Block and recorded in a Merkle tree published in connection with the Recovery Portal. Loss is calculated solely for purposes of the OLP Recovery Plan and does not include lost yield, staking or trading returns, gas or transaction fees, taxes, or any other consequential, incidental, or indirect losses.

3.3 Any OLP remaining in the vault following the Incident is not part of, and is not taken into account in calculating, any Allocation or payment under these Terms and is addressed separately from the OLP Recovery Plan.

3.4 Every wallet seeking to collect an Allocation through the Recovery Portal will be screened using Chainalysis KYT. A wallet is not eligible to collect an Allocation, and any General Entitlement otherwise associated with that wallet is void, if the wallet:

* is, or Ostium reasonably believes is, controlled by or associated with the person or persons who perpetrated the Incident, or has received, directly or indirectly, any proceeds of the Incident;
* is owned or controlled by, or is acting on behalf of, a person that is a Sanctioned Person;
* is owned or controlled by, or is acting on behalf of, a person located or ordinarily resident in a Restricted Jurisdiction; or
* is flagged by Chainalysis KYT or otherwise identified by Ostium as presenting a sanctions, money-laundering, terrorist-financing, or other legal or regulatory risk.

For purposes of this Section 3.4, “Sanctioned Person” means any person that is (i) named on any sanctions list maintained by the U.S. Office of Foreign Assets Control, the United Nations Security Council, the European Union, His Majesty’s Treasury of the United Kingdom, or any other applicable governmental authority, or (ii) organized, resident, or located in a country or territory that is the subject of comprehensive sanctions administered by any such authority (each, a “Restricted Jurisdiction”). Ostium may, in its sole discretion, request additional information from any Participant to verify eligibility and may suspend or deny an Allocation pending completion of such verification. If a wallet is flagged or denied under this Section 3.4, the General Entitlement associated with that wallet is void and the Participant will have no right to payment under these Terms. Ostium's determination under this Section 3.4 is final and binding for purposes of these Terms and is not subject to review, appeal, or challenge.

3.5 A Participant that believes the Loss or General Entitlement associated with its wallet is incorrect may, before the earlier of (a) the Participant's first signature described in Section 6.1 and (b) the Election Deadline, submit a dispute through the Recovery Portal together with any supporting information reasonably requested by Ostium. Ostium will review the dispute in good faith and may correct the applicable Merkle tree entry if it determines that an error occurred. A Participant may not collect an Allocation while a dispute is pending. Any determination by Ostium under this Section 3.5 is solely for purposes of the OLP Recovery Plan and, absent manifest error, will be final for purposes of calculating the Allocation.

## 4. Convenience Class

4.1 If a wallet’s General Entitlement is at or below the Convenience Entitlement Threshold, the holder is a member of the Convenience Class and may collect 100% of its Loss in USDC from the Convenience Class Smart Contract at any time before the Convenience Entitlements Deadline. Payment is made in full upon completion of the signing process described in Section 6.1. Any Convenience Entitlement not collected by the Convenience Entitlements Deadline expires, and the holder will have no further right to payment in respect of that Allocation.

4.2 If a wallet’s General Entitlement is above the Convenience Entitlement Threshold, the holder may, before the Election Deadline, make a Convenience Class Election, which irrevocably reduces the holder’s Allocation to the Convenience Entitlement Threshold. Upon completion of the signing process described in Section 6.1, the Convenience Entitlement Threshold amount is paid to the holder in USDC. A holder who makes a Convenience Class Election permanently forfeits any right to a Recovery Entitlement or Recovery Distribution. A holder who does not elect by the Election Deadline is deemed to have declined, and its General Entitlement becomes a Recovery Entitlement as described in Section 5.

4.3 The Convenience Class Smart Contract is funded with 649,967.554552 USDC, being all funds recovered in connection with the Incident as of the date of these Terms. Any funds recovered in connection with the Incident after the funding of the Convenience Class Smart Contract are allocated to the Recovery Pool. Promptly after the Election Deadline, Ostium will transfer to the Recovery Entitlements Smart Contract all funds held in the Convenience Class Smart Contract in excess of the aggregate amount of all Convenience Entitlements that remain outstanding and uncollected at that time, and the Convenience Class Smart Contract will thereafter hold only the funds required to pay those outstanding Convenience Entitlements in full. Any funds remaining in the Convenience Class Smart Contract after the Convenience Entitlements Deadline, including amounts attributable to expired or uncollected Convenience Entitlements, will be transferred to the Recovery Entitlements Smart Contract and will form part of the Recovery Pool. Upon the Convenience Entitlements Deadline, no further Convenience Entitlements may be collected, and Ostium may effect that transfer immediately upon, or at any time after, the Convenience Entitlements Deadline, without notice to or the consent of any Participant.

## 5. Recovery Entitlements

5.1 A holder whose General Entitlement exceeds the Convenience Entitlement Threshold and who does not make a Convenience Class Election by the Election Deadline holds a Recovery Entitlement for the full amount of its Loss (capped at 100%). After the Election Deadline, the holder will be recorded automatically in the Recovery Entitlements Smart Contract, and it will be required to sign a message incorporating these Terms (including the release in Section 7) when it first collects a Recovery Distribution under Section 5.2. Automatic recording of a Recovery Entitlement does not constitute acceptance of these Terms, and no Recovery Distribution will be paid to a holder that has not signed a message incorporating these Terms.

5.2 Holders of Recovery Entitlements may receive Recovery Distributions from the Recovery Pool from time to time. Each Recovery Distribution is calculated pro rata based on each holder's Loss as a proportion of the aggregate Loss of all holders of outstanding Recovery Entitlements at the time of the distribution. Recovery Distributions may be made in USDC or in any other digital asset or asset recovered in connection with the Incident, as determined by Ostium in its sole discretion; where a Recovery Distribution is made in an asset other than USDC, the value of such asset for purposes of crediting the distribution against a holder's Loss will be determined by Ostium in good faith based on the fair market value of the asset at the time of distribution as reported by one or more reputable pricing sources selected by Ostium. Ostium will determine in its sole discretion when funds in the Recovery Pool are sufficient to warrant a Recovery Distribution. A holder collects each Recovery Distribution individually through the Recovery Portal and remains eligible for future distributions until it has received 100% of its Loss. The amount and timing of Recovery Distributions are not guaranteed and are within Ostium’s discretion based on fund availability.

5.3 The Recovery Pool is funded from (a) any funds transferred to the Recovery Entitlements Smart Contract from the Convenience Class Smart Contract in accordance with Section 4.3, and (b) any funds recovered in connection with the Incident after the funding of the Convenience Class Smart Contract. The Recovery Pool may also include a portion of revenue from Ostium trading fees, although Ostium is not obligated to contribute any specific amount or to maintain any minimum balance in the Recovery Pool beyond the commitments in this Section 5.3. Any amounts set aside or reserved for an Allocation that expires or is forfeited under these Terms will remain in, or be returned to, the Recovery Pool, as applicable.

5.4 These Terms do not create any right to equity, tokens, or any consideration beyond the Recovery Distributions described in this Section 5. Ostium retains sole discretion as to whether to make any additional consideration available to holders of Recovery Entitlements in the future.

## 6. The Recovery Portal

6.1 Each time a Participant takes an action through the Recovery Portal (including collecting a Convenience Entitlement, making a Convenience Class Election, or collecting a Recovery Distribution), the Recovery Portal will present a message incorporating these Terms for the Participant to sign using its wallet’s private key. Signing constitutes acceptance of these Terms (including the release in Section 7). Upon signing, the corresponding payment or recording will be processed through the Recovery Portal.

6.2 Ostium is not your agent, advisor, or custodian, and nothing in these Terms constitutes legal, tax, financial, or other advice. You are solely responsible for evaluating whether to make a Convenience Class Election or to allow your General Entitlement to become a Recovery Entitlement.

6.3 You are solely responsible for the security and management of your digital asset wallet, including safeguarding your private keys, seed phrases, and login credentials. Ostium will never ask you for your private key or seed phrase. You should verify that you are interacting with the official Recovery Portal URL before connecting your wallet or signing any transaction. Ostium is not responsible for any loss resulting from phishing attacks, fraudulent websites, compromised private keys, wallet software vulnerabilities, blockchain network congestion or failures, smart-contract bugs, or any other technological risk associated with the use of blockchain-based systems. Transactions executed on the blockchain are irreversible, and Ostium has no ability to reverse, cancel, or modify any on-chain transaction once confirmed.

## 7. Release

7.1 In consideration of Ostium’s voluntary recovery and distribution efforts, and effective automatically upon the Participant’s first signature described in Section 6.1, the Participant, on behalf of itself and its successors, assigns, heirs, and representatives, hereby releases and forever discharges Ostium and each Released Party (as defined in Section 8.1) from any and all past, present, and future claims, demands, causes of action, liabilities, and obligations of any kind, whether known or unknown, suspected or unsuspected, arising out of or relating to: (a) the Incident and its causes; (b) deposits into, and withdrawals from, OLP; (c) the pause of trading on the Ostium protocol following the Incident; and (d) the design, implementation, and operation of the OLP Recovery Plan, the Recovery Portal, the Convenience Class Smart Contract, and the Recovery Entitlements Smart Contract (collectively, the “Released Claims”).

7.2 The release in Section 7.1 does not release, and the Participant retains the right to enforce, Ostium’s commitments in these Terms to (a) pay Convenience Entitlements from the Convenience Class Smart Contract in accordance with Section 4, and (b) fund the Recovery Pool in accordance with Section 5.3. For the avoidance of doubt, this carve-out does not extend to, and the Participant releases any claim regarding, the amount, timing, or existence of any particular Recovery Distribution, which remains subject to Section 5.2.

7.3 The Participant hereby assigns to Ostium (or Ostium's designee) (a) any claim against the person or persons who perpetrated the Incident, and (b) any interest in the assets taken in the Incident or their proceeds, in each case only up to the aggregate amount actually received by the Participant under these Terms. The assignment becomes effective from time to time as and when such amounts are actually received and is intended solely to prevent double recovery. For the avoidance of doubt, no claim or interest is assigned in respect of any portion of the Participant's Loss for which the Participant has not received payment under these Terms.

7.4 The Participant covenants that it will not, and will not assist any other person to, commence, join, or maintain any action, suit, or proceeding against any Released Party with respect to any Released Claim.

7.5 The Participant agrees that any Released Claim must be brought, if at all, on an individual basis, and not as a plaintiff or class member in any purported class, collective, or representative action or proceeding, and waives any right to participate in such an action or proceeding with respect to any Released Claim.

7.6 The Participant acknowledges that it may later discover facts different from those it now believes to be true regarding the Released Claims and agrees that the release in Section 7.1 remains in full force notwithstanding any such discovery. To the extent enforceable, the Participant expressly waives the benefit of any statute, doctrine, or rule of law that would limit the release of unknown or unsuspected claims, including, if applicable, California Civil Code Section 1542, which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

7.7 For the avoidance of doubt, the automatic recording of a Recovery Entitlement under Section 5.1 does not trigger the release in Section 7. The release is triggered by the holder’s first signature to collect a Recovery Distribution and remains in effect whether the holder collects any later Recovery Distribution. The assignment in Section 7.3 becomes effective only as and when amounts are received by the Participant under these Terms.

## 8. Released Parties, Governing Law, and Forum

8.1 “Released Party” means Foundation and Labs, and each of their respective past, present, and future affiliates, together with each of the foregoing persons’ past and present officers, directors, employees, shareholders, members, managers and advisers (including legal, financial and technical advisers), in each case in their capacities as such. Each Released Party is an intended third-party beneficiary of Section 7 and this Section 8 and may enforce those provisions.

8.2 All payments made under these Terms are made directly from the Convenience Class Smart Contract or the Recovery Entitlements Smart Contract, as applicable. No Released Party guarantees, and no Released Party is personally liable for, any payment under these Terms beyond the funds actually held in, or contributed to, the applicable smart contract in accordance with Section 4.3 or Section 5.3, as applicable.

8.3 These Terms and any dispute, claim, or controversy arising out of or relating to these Terms will be governed by and construed in accordance with the laws of the State of Delaware, consistent with the Federal Arbitration Act, without giving effect to any conflict-of-laws principles that would require the application of the law of another jurisdiction.

8.4 Except for claims qualifying for small claims court or claims for equitable relief to enforce intellectual property rights, any dispute arising out of or relating to these Terms, the Recovery Portal, or the OLP Recovery Plan will be resolved by binding, individual arbitration administered by National Arbitration & Mediation in accordance with its rules then in effect. The Participant and Ostium each waive any right to a jury trial. A Participant may opt out of this arbitration agreement by delivering a written notice to Ostium at [team@ostium.io](mailto:team@ostium.io) within 30 days after the date the Participant first signs a message described in Section 6.1. The opt-out notice must include the Participant's wallet address, the Participant's name (if applicable), and a clear statement that the Participant declines to be bound by Section 8.4. An opt-out will not affect the validity of any other provision of these Terms, including the release in Section 7, which will remain in full force and effect.

## 9. General

9.1 Ostium has undertaken the OLP Recovery Plan voluntarily and does not guarantee that any Participant will receive any particular amount, or any payment at all, beyond the Convenience Entitlements payable in accordance with Section 4.

9.2 The Participant represents and warrants that it is not, and is not acting on behalf of, a Sanctioned Person, and that it is not located or ordinarily resident in a Restricted Jurisdiction. The Participant agrees to comply with all applicable export control and sanctions laws in connection with its use of the Recovery Portal.

9.3 THE RECOVERY PORTAL IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. TO THE MAXIMUM EXTENT PERMITTED BY LAW, OSTIUM DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, AND NO RELEASED PARTY WILL BE LIABLE FOR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATING TO THESE TERMS OR THE RECOVERY PORTAL.

9.4 Ostium may amend these Terms from time to time by posting an updated version on the Recovery Portal. Any amendment will apply prospectively to Allocations collected after the amendment is posted and will not affect the validity of a release, assignment, or payment that has already become effective under a prior version of these Terms.

9.5 These Terms constitute the entire agreement between the Participant and Ostium regarding the subject matter herein. If any provision is held invalid or unenforceable, the remaining provisions will remain in full force and effect.

9.6 Each payment under these Terms is an amount from which no tax has been withheld or deducted. Ostium does not withhold or report any taxes on behalf of any Participant. The Participant is solely responsible for determining and satisfying any and all tax obligations, including income tax, capital gains tax, value-added tax, goods and services tax, and any other taxes or duties that may arise in any jurisdiction as a result of receiving a Convenience Entitlement, a Recovery Distribution, or any other payment or benefit under these Terms. Ostium makes no representation regarding the tax treatment of any payment and does not provide tax advice. The Participant agrees to indemnify and hold harmless Ostium and each Released Party from and against any tax, penalty, interest, or cost arising from the Participant’s failure to report or pay any tax in connection with amounts received under these Terms.